Hyster-Yale (HY) closed the most recent trading day at $36.97, moving +2.78% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 0.85%. On the other hand, the Dow registered a gain of 1.36%, and the technology-centric Nasdaq increased by 0.72%.
Coming into today, shares of the maker of lift trucks and aftermarket parts had lost 5.34% in the past month. In that same time, the Industrial Products sector gained 0.55%, while the S&P 500 gained 2.38%.
The upcoming earnings release of Hyster-Yale will be of great interest to investors. It is anticipated that the company will report an EPS of $0.03, marking a 96.91% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $955.69 million, down 5.95% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.75 per share and a revenue of $3.77 billion, signifying shifts of -91.65% and -12.59%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Hyster-Yale. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Hyster-Yale holds a Zacks Rank of #5 (Strong Sell).
Investors should also note Hyster-Yale's current valuation metrics, including its Forward P/E ratio of 47.96. This represents a premium compared to its industry average Forward P/E of 23.4.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 229, this industry ranks in the bottom 8% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Hyster-Yale, Inc. (HY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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